Rupee gains five paisas on lower demand for imports

Rupee gains five paisas on lower demand for imports

KARACHI: The Pak Rupee gained five paisas against the dollar on Wednesday owing to lackluster demand for import payments, dealers said.

The rupee ended Rs155.73 to the dollar from previous day’s closing of Rs155.78 in interbank foreign exchange market.

The dealers said that the importers were cautious for placing demand for dollar against foreign buying owing to falling exchange rates.

The foreign currency market was initiated in the range between Rs155.79 and Rs155.84. The market recorded day high of Rs155.79 and low of Rs155.73 and closed at Rs155.73.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs155.60/Rs155.90 from previous day’s closing of Rs155.70/Rs156.00 in cash ready market.

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